Sale of 6 New Panvel plots earns Cidco Rs 107cr

The authority also auctioned nine other plots out of 78 commercial properties put up for auction and generated a revenue of Rs 60 crore.

NAVI MUMBAI: Six land tender plots in New Panvel have been sold for a total of Rs 107 crore by Cidco on Tuesday, showing the demand for realty in satellite city. Around 35 real estate developers had bid for four residential-cum-commercial and two residential plots in various sectors of New Panvel.

“We were expecting a high price for these plots, as New Panvel is a developed node. It is also close to the upcoming airport project,” said Mohan Ninawe, Cidco spokesperson.

The four residential-cum-commercial plots in sectors 6 and 17 were sold to Shree Hari Enterprises (Rs 12 crore), Satguru Infra Projects (Rs 29.96 crore), and two went to TPV Life Space for around Rs 29 crore each.

The two residential plots of 500 sq m went to Meghdoot Infra Projects and Sai Ram Realty for Rs 4.06 crore each.

The secretary of Navi Mumbai chapter of Maharashtra Chamber of Housing Industry (MCHI) Manohar Shroff, said that the fact that these six tender plots were sold at a decently high price range due to the various developments in the city, especially the upcoming Navi Mumbai International Airport.

Shroff added that Cidco had sold tender plots in Nerul in May for Rs 45 crore — a rate of Rs 2.82 lakh per sq m.